Brexit showdown looms in UK Parliament: fade EUR/GBP breakouts - TDS

 Analysts at TD Securities noted that on Tuesday and Wednesday this week, the UK House of Commons begins a series of votes on 15 amendments on the Withdrawal Bill made earlier this year by the House of Lords.

Key Quotes:

"Of note are two amendments on EEA membership and a negotiating stance in favour of a customs union (CU)."

"We don't expect the EEA amendment to pass, and while the CU amendment might just be approved, it's important to note that it does not require the UK to join a customs union."

"While some minor amendments might be approved, the more contentious ones are, on balance, likely to be voted down."

"FX/Rates Strategy: With the data and event risk calendar already overloaded, we think this week's votes are not likely to give either rates or FX markets a strong directional push."

"We are inclined to fade any breakouts that emerge in EUR/GBP."

"In rates we remain bearish on duration and continue to pay Aug 18/receive Nov 18 MPC-dated contracts."

Copyright

© FXstreet

UK PM May: Clear there was some debate & disagreem...
Fitch: Uncertainty about political influence over ...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Friday, 19 July 2019
 
     
 

Latest Spot Rate

 
19 July 2019
Gold hits 6-year high on heightened Middle East tensions - MarketPulseMarketPulseHome/AUD/Commodities/Currency/EUR/FX/Indices/JPY/Market Pulse/Technical Analysis Forex/USDShare 0 Safe havens and a weaker dollarGold extended its recent rally to a thi...
19 July 2019
Daily Markets Broadcast 2019-07-19 - MarketPulseMarketPulseHome/Daily Markets Broadcast/DAX/Indices/Market Pulse/Technical Analysis/Technical Analysis IndicesShare 0Daily Markets Broadcast2019-07-19Wall Street rebounds on heightened Fed hopes...
19 July 2019
Risk appetite is waning as earnings season picks up and as political posturing between the Chinese and Americans see no substantial progress on the trade front.  US stocks have been unable to extend the record rally despite a relatively good start to...
19 July 2019
The Canadian dollar rose 0.17 percent versus the greenback on Thursday as NY Fed Chief John Williams made it clear that not only would the Fed cut in the near term, it could take a proactive deeper reduction of the Fed’s fund rate when it the FOMC me...
18 July 2019
US Open - Netflix misses, Iran seizes a vessel, Silver gains on gold, Bitcoin eyes $10,000 - MarketPulseMarketPulseHome/Commodities/Crypto/Currency/Dean's FX/Economic Exposure/Indices/USD/Yield and IndicesShare 0As earnings season picks up, the majo...
How It Works | About | Contact | Privacy Policy | Forex Marketing
© 2009 - 2019 Forex Forum. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.